Multinational Foster Care

September 24, 2014 permalink

A group called KeyAssets has a website soliciting foster parents in Ontario. Below we enclose three pages, two giving the stories of the founders, the last offering $75 per day tax-feee to Ontario foster parents. This sum is about double the payments that foster parents have reported to fixcas.

The same group is operating in Australia and New Zealand. Founders Jan and Jim do not give their surnames or nationality on the Canadian site, but the New Zealand webpage names them as Jim Cockburn and Jan Rees. Fostering is a lucrative enough business to attract a multinational corporation masquerading as a mom-and-pop business.

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Our history

Meet our founders Jan and Jim. They founded Key Assets’ sister company FCA, in 1994, back in the days when Friends had only just hit our television screens and smart phones were still a daydream.

Jan and Jim had already been a foster carer and social worker, so they knew more than a thing or two about fostering. They were passionate about it too and were keen to make an even bigger difference to the lives of children who are fostered. So, what did they do? They found a small office in the leafy English countryside and started their own fostering agency; FCA.

That was almost 20 years ago and we’ve been placing children with loving foster carers ever since. We’ve come a long way since those early days and we’re now part of the Core Assets Group, offering a wide range of services to children and families.

Our fashion and hairstyles may have changed over the years, but our values have stayed the same. Jan and Jim are still the centre of our family. Our commitment to changing the lives of children and youth is stronger than ever. And our foster carers are still at the heart of everything we do.

Key Assets Canada began in 2009 in Southern Ontario as part of Jim and Jan’s vision to make a difference in the lives of children all over the world – and that’s just what we are doing, one child at a time!

Source: KeyAssets Canada

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Corporate Governance

Key Assets New Zealand is part of the Core Assets Group, an international organisation which provides an extensive portfolio of social care services for children and young people, including foster care.

We’re founder led by Jim Cockburn (Executive Chairman) and Jan Rees (non-Executive Director) and closely managed by a Board of Directors whose wide range of skills, knowledge and experience, guide our organisation towards healthy growth without compromising our visions and values.

Key Assets is led by Angie Simpson and Wayne Ferguson who are responsible for bringing forward our core aspirations whilst maintaining the highest standard of service delivery. Angie and Wayne oversee the general running of Key Assets and provide programme/service management and planning oversight.

Our ever-expanding international portfolio of services is fully audited by the Group’s global Auditor to ensure sound governance and the highest professional standards in all its entities.

Our operating structure reflects our culture, with a short and simple chain between strategy and service delivery. Its systems and internal controls throughout the organisation ensure that we comply with statutory, regulatory and internal policies and procedures.

Source: KeyAssets New Zealand

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Payments and allowances

Fostering is a fantastic career and our carers deserve to be rewarded for their hard work. That’s why we offer generous and competitive fostering allowances.

Our allowances take into account the demands of foster care and the significance of the role you play in a child or youth’s life. They payments are designed to help you cover the cost of looking after the child in your care.

We don’t just reward you financially though. At Key Assets we offer unrivalled levels of support and training to all of our foster carers.

How much will I receive?

You will receive a total of $75 per day while a foster child is in your care. This amount covers the child’s expenses as well as the carer’s allowance. Generally one third ($25) of the daily allowance will be spent on the foster child.

What expenses will I be responsible to pay for from this allowance?

The fostering allowance takes into account the costs of living with a foster child. Some of these costs include:

• Food
• Clothing
• Travel
• Household bills
• Everyday living
• Allowance
• Entertainment

You know the needs of the child placed with you best, so you will have some flexibility around how this allowance is spent on the foster child each week. It is however, mandatory that you establish a savings account for the foster child and make ongoing payments to this.

Will I be taxed on the allowance I receive?

No, you will not be taxed on this amount.

Source: KeyAssets Canada